Sumitomo Life Insurance Co. Has $1.55 Million Stock Position in Pfizer Inc. (NYSE:PFE)

Sumitomo Life Insurance Co. raised its position in Pfizer Inc. (NYSE:PFE) by 2.5% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 53,470 shares of the biopharmaceutical company’s stock after acquiring an additional 1,305 shares during the period. Sumitomo Life Insurance Co.’s holdings in Pfizer were worth $1,547,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. FAS Wealth Partners Inc. boosted its stake in Pfizer by 1.3% during the 2nd quarter. FAS Wealth Partners Inc. now owns 26,306 shares of the biopharmaceutical company’s stock valued at $736,000 after purchasing an additional 342 shares during the last quarter. Sachetta LLC grew its holdings in Pfizer by 7.3% during the second quarter. Sachetta LLC now owns 5,010 shares of the biopharmaceutical company’s stock worth $140,000 after buying an additional 342 shares in the last quarter. Ironvine Capital Partners LLC raised its position in Pfizer by 2.1% in the 1st quarter. Ironvine Capital Partners LLC now owns 16,953 shares of the biopharmaceutical company’s stock valued at $470,000 after buying an additional 353 shares during the last quarter. Secure Asset Management LLC lifted its stake in Pfizer by 0.6% during the 2nd quarter. Secure Asset Management LLC now owns 58,328 shares of the biopharmaceutical company’s stock valued at $1,632,000 after acquiring an additional 353 shares in the last quarter. Finally, Patrick M Sweeney & Associates Inc. boosted its holdings in Pfizer by 0.8% during the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 42,162 shares of the biopharmaceutical company’s stock worth $1,180,000 after acquiring an additional 355 shares during the last quarter. Institutional investors and hedge funds own 68.36% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on PFE shares. Daiwa Capital Markets raised shares of Pfizer from a “neutral” rating to an “outperform” rating and raised their price target for the company from $28.00 to $34.00 in a research report on Wednesday, August 7th. Barclays lifted their target price on shares of Pfizer from $30.00 to $32.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. UBS Group upped their target price on Pfizer from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Wells Fargo & Company boosted their price objective on Pfizer from $28.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 31st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $45.00 target price on shares of Pfizer in a research report on Thursday, October 3rd. Six research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $34.10.

Pfizer Stock Up 0.7 %

PFE opened at $29.66 on Thursday. Pfizer Inc. has a 12 month low of $25.20 and a 12 month high of $33.19. The company has a market cap of $168.07 billion, a PE ratio of -494.33, a price-to-earnings-growth ratio of 1.30 and a beta of 0.67. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.65. The company has a 50 day moving average of $29.04 and a 200 day moving average of $28.42.

Pfizer (NYSE:PFE) last announced its quarterly earnings results on Tuesday, July 30th. The biopharmaceutical company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.14. The company had revenue of $13.28 billion during the quarter, compared to analysts’ expectations of $12.96 billion. Pfizer had a positive return on equity of 8.42% and a negative net margin of 4.66%. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.67 earnings per share. On average, sell-side analysts expect that Pfizer Inc. will post 2.66 EPS for the current year.

Pfizer Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Friday, November 8th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.68 annualized dividend and a dividend yield of 5.66%. Pfizer’s payout ratio is currently -2,800.00%.

Pfizer Company Profile

Pfizer Inc discovers, develops, manufactures, markets, distributes, and sells biopharmaceutical products in the United States, Europe, and internationally. The company offers medicines and vaccines in various therapeutic areas, including cardiovascular metabolic, migraine, and women's health under the Eliquis, Nurtec ODT/Vydura, Zavzpret, and the Premarin family brands; infectious diseases with unmet medical needs under the Prevnar family, Abrysvo, Nimenrix, FSME/IMMUN-TicoVac, and Trumenba brands; and COVID-19 prevention and treatment, and potential future mRNA and antiviral products under the Comirnaty and Paxlovid brands.